St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-05-24
On the Chicago Board Of Trade the Open
ing Markets We're Unusually Active
For Various Cereals.
Wheat Was Decidly Strong and Higher,
and There Was Considerable Nerv-
BUSINESS Displayed.
After the First Squirt the Long Futures
Became Very Quiet, Although They
Held Steady.
Transactions in the Financial Circles
Of Wall Street.-The General
Quotations.
Special to the Globe.

E CHICAGO, May 23.-The signal service map
was tinged all over this morning with the
blue pencil marks, indicating rainfalls. But
n close examination showed that while there
had been numerous wetting downs substai-
tial rains had been very scarce. The map
was for forty eight hours, and If the samerain
fall had appeared on two maps instead OF
one, as would have been the case any other
day but Monday, it would have created no
bear sentiment. The market once opened,
however, the apprehension was plainly all
on the other side. June wheat opened at
SSAc and spurted up to SS7sc at once, not
either on any forcing from the clique
brokers. There was plenty of bear news, but
there were plainly, too, plenty of shorts and
they were not feeling easy. AT st. Louis there
are, it is said. only 357 900 bushels of con-
tract wheat. From Duluth last week 500, 600
bushels of wheat were shipped. The walk
ing was all done by the shorts from the start,
the clique brokers apparently doing nothing.
The early guesseS on the visible supply were
for
DECREASE IN WHEAT
of about ], 100000 bushels. This was not as
large figure as the bulls would have liked
and were hoping for, but it was large enough
not to serve as Il bear argument. The ex-
pOrters said that there was temporary pause
in the foreign demand. r. G. Mccormick &
Co. had Offered two cargoes at led decline
without getting a taker But il is explained
that foreigners have now bought so freely
that their anxiety is Il little relieved and they
are prepared to wait little. Stiff markets
here however, it is expected, will start them
in as buyers again. The visible supply figures,
when they were at last made public, were
about as anticipated. Wheat Showed de-
crease of only l, 4O0. 600 bushels in spite of
exports from the Atlantic ports of .. 934, 600
bushels of wheat. The estimated car lots for
Tuesday show that the promised Minneapolis
and other Northwestern wheat is en- route to
n annfny r,tr- tNrfr .,ntn
for the receipt Tomorrow of 1876 cars OF
wheat and 465 cars of corn. The St. Paul
road is reported TO have sent 600 empty cars
to Minneapolis yesterday, and is also reported
to have contracted to bring 200 cars of wheat
from there every day this week. This talk
comes, of course, from the bears and the
shorts, but the actual car let's are promised
this week, and this makes it look us if there
was some truth in the prediction. But with
the exception of the great lot of spring wheat
headed toward this market, all the other
news was bullish. At New York it was said
that forty boat loads of wheat had been taken
for export. The exports of wheat and flour
last week reached the enormous total flour
reducedD offs, 521 900 bushels of wheat. The
clique operations were confined to occasion
ally pegging June wheat at SS14c. There
was some selling of June by the clique
houses. Cudahy was credited with large pur-
chases of July.
CHICAGO, May 23.-The opening markets on
'change,were unusually active and in decided
contrast to the dullness which prevailed on
Saturday. Wheat was strong and higher and
there was considerable nervousness dis,
played. June opened at SSAc and sold to
SSl2c almost Immediately. July and August
were actively bid for; June wheat after sci,
ling up 10 S6I2c, reacted to S614c, and then
steadily advanced to S634c. The clique did
very little after the first squirt of activity; in
| the long futures these months became very
quiet though very steady AS the returns
| began to come in from various points in be-
| would not show the amount of decrease that
| was predicted for it early in the season. The
| early estimates were for decrease of 9, 900, !
COG 900 b bg;a but official returns made i
were quite large and went long way toward
| keeping the decrease down. The unsatisfaci
| tory returns caused the price of June wheat
| to ease off TO S6Mc, the opening figure. But
| toward the close of the morning session wheat
| firmed UP again and June closed at SSl2c
At the afternoon session heavy exports from
| the seaboard and higher markets at st. Louis
and other points, together with increased nerv
| BUSINESS among the shorts made wheat per-
ceptibly frmer, and June sold to s9c and
closed at SS7sc. Corn and oats, owing to the
rains of last night and yesterday, were de-
cidedly weak at the opening July and Au-
at 27lsc for July and &c for August The
oats crowd were very active for some
time after the start, and considerable trading
was done in July and August futures. Later
In the day the market quieted down and July
closed at the opening figure and August at
26Gc, July corn opened at 4O7sc and
sold down to 80 sc in short time Around
this hgure 1t was very quiet and steady until
towards midday, when it declined to 4Ol2c.
During the afternoon session it stiffened
somewhat and closed at 405sc. More hogs
ribs to open weak at s.. 52s. This weakness ess
was only temporary, and July ribs advanced
Toe in the first hour of the session. July
lard, which opened at $6.75, also advanced
to $6.77i2. After the early advance provil
sions remained rather steady during the day
and closed at $3.50 for July lard and $$7. 81
for July ribs. !
THE QUOTATIONS..
The leading futures ranged as follows:
June, ,ssAc, closing at $3.50; july
ing at s5Isc' cornWNo May, ssssc, CLOS CLOS
ing at 3SSsc; June, 39l4c, closing at $3.50;
July, 407sc, closing at 4O9sc; August,
4ll%c, closing at 41s4e. oats-No. 2 May,
SSe h1g at 25Gc yune 2Sc closing
gust, PC, closing at 26a4c. Mess pork
per Dbl, May, S23, closing at S23;
June, $23, closing at s23. Lard
9sn eoe ss D e daA se at closing at s
ing at $500. Short ribs-per loo lbs.
May, $40, closing,a S7.25: June, $40,
closing at 1928; july, 81. 22la, closing at
Cash quotations were as follows: Flour
| quiet nd unchanged. Wheat-No. spring.
| S7l2@S7ssc;- No. 3 spring wheat, nominal,
| IT; No. 2 red, S7ssc. Corn-No. 2, 3SAc, bid
| Oats--No. 2, 25l2c. Rye-No 2, SEC Bar,
| ley-No. 2, SIC. Flax seed-No. 1, liz.
per Dbl, S23. Lard, per 100 lbs, S6.65.
Short ribs sides, loose, S7.12Ia@7.15; dry
sailed shoulders, boxed, Sc. 6O@5. 20; shoft
clear sides, boxed, $4,000. 65. Whisky
Distillers' finished goods GOD per gal. 81; lg.
| 600 bu; corn, $4,000 bu; oats, I'll
] 600 Blu; rye, 1000 bu; barley, 5000 BID.
Shipments-Flour, 1000 bbls; wheat, Or
| 600 bu; corn, $1,000. bu; oats, III. OOp
the produce exchange to-day the butter mar
ket was weak; dairy, 13@17c; creamery,
l5MISc Eggs firm at 1OI9Ml 1c =